Leather exports up 25% at Rs. 48,667 crore (US$ 5.7 billion) in FY25, may hit Rs. 55,497 crore (US$ 6.5 billion) in FY26: Council for Leather Exports (CLE)

India’s leather, non-leather footwear, and products exports increased by 25% YoY, reaching Rs. 48,667 crore (US$ 5.7 billion) in FY24. According to the Council for Leather Exports (CLE), demand in developed and developing countries remains strong. Despite global uncertainties, the sector has exceeded the commerce department’s export target by Rs. 8,538 crore (US$ 1 billion). CLE Executive Director Mr. R Selvam highlighted that exports will surpass Rs. 55,497 crore (US$ 6.5 billion) in FY25. The US and UK, key export destinations for India, have shown robust demand. Although a 10% tariff hike has led exporters to offer discounts, there have been no order cancellations. CLE Chairperson Mr. Rajendra Kumar Jalan noted that order books are strong for the coming months. The industry employs approximately 4.2 million people and has a total turnover of about Rs. 1,62,222 crore (US$ 19 billion), including Rs. 42,690 crore (US$ 5 billion) in exports.

The sector’s potential for growth is significant, with projections indicating a total turnover of Rs. 3,32,982 crore (US$ 39 billion) by 2030. This includes domestic production of Rs. 2,13,450 crore (US$ 25 billion) and export turnover of Rs. 1,16,971 crore (US$ 13.7 billion). The industry has also attracted interest from Chinese investors who are keen to collaborate with Indian footwear players to establish manufacturing units in India. This collaboration could further boost the sector’s growth and employment opportunities.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.